tag:blogger.com,1999:blog-1826828000189814347.post3572073661880385469..comments2023-09-02T12:29:45.592-04:00Comments on Had Enough Indy ?: Big Time Bailouts of Indy's TIFsHad Enough Indy?http://www.blogger.com/profile/09673791504434523246noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-1826828000189814347.post-82647603989633192452012-08-23T20:55:40.567-04:002012-08-23T20:55:40.567-04:00Good catch CorrND. They have items within each fu...Good catch CorrND. They have items within each fund's revenue list that are negative numbers. Transfers of money out are negative numbers. They also parked some of the property tax cap hits in these funds - which show as negative numbers. The operating budgets were actually higher than $80, but I used the shortcut of adding the final total of each fund.<br /><br />Hope that makes some sense.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-79180082907766072272012-08-23T15:00:28.822-04:002012-08-23T15:00:28.822-04:00Nice investigative work. Maybe I'm missing so...Nice investigative work. Maybe I'm missing something in the details, but just curious about this:<br /><br />Why are they infusing the under-performing TIFs with $40.5M (1.2 + 6.1 + 16.6 + 16.6) when the shortfall is reportedly $26.7M (80 - 53.3)?CorrNDhttps://www.blogger.com/profile/15371462855078578516noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-12163055649478619452012-08-23T12:28:26.117-04:002012-08-23T12:28:26.117-04:00No disagreement on the insanity of it. I just thi...No disagreement on the insanity of it. I just think both major parties (across levels of government), routinely spend money we don't have to preserve percieved reelection chances from a targeted constituency. Bipartisan, collective sacrifice on behalf of all our futures is no longer a consideration. <br /><br />Maybe that's too idealistic a notion, but the closest local figures I perceive apt to believe this possible would be yourself and Christine Scales. <br /><br />I thank you both for your work.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-70723796386629523162012-08-22T23:23:12.443-04:002012-08-22T23:23:12.443-04:00Anon 10:20 - I see it as independent of the nation...Anon 10:20 - I see it as independent of the national or state picture.<br /><br />It looks like we are on the edge - where we could land on either side - of a feeding frenzy in favor of new TIFs. Fed by a 'you got yours, now I want mine' attitude.<br /><br />Beyond TIFs, it looks like the establishment Republicans tried to pillage as much as possible, thinking Ballard's first term was their last in Indy. Surprise, he won - now they are creating new slush funds to raid by creating new TIFs. They are selling off the City County building as one of the few assets they tangentially have any influence over. Since they do not technically own it, they coutch it in lies that somehow they can save money by selling the rights for some up front money.<br /><br />Again - they are reaching into the next generation's pockets to spend money today.<br /><br />It isn't stopping at city hall. More permanent damage will be done at the airport. They construct their lease agreements specifically to lowball the private sector on price per square foot - all the while refusing to return the property to the tax rolls. Releasing the land they do not need for aviation purposes would help every governmental unit in the County and every taxpayer in the County.<br /><br />Tell your friends. Pass the word. The insanity needs to be stopped.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-78286487373551816612012-08-22T22:20:39.233-04:002012-08-22T22:20:39.233-04:00While I am grateful for Mayor Ballard's servic...While I am grateful for Mayor Ballard's service to our country as a veteran, I've never made a more agregious voting error in my life than voting for him in his first term. <br /><br />I've lived in a dozen residences over five states in the Midwest and South over my lifetime. I've never, ever, experienced something of this magnitude first-hand. I've read or heard about it in the administrations of Daley in Chicago, or Huey Long in Louisiana, or Pendergast in Kansas City. But to go through it first-hand!<br /><br />The most chilling aspect is it's the excesses of the Bush administraion that wrought the severe pendulum swing of President Obama. What deeper economic irrationality is going to "rescue" us after Ballard?<br /><br />Aaaarrghhh.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-62077075062707524302012-08-22T10:25:24.938-04:002012-08-22T10:25:24.938-04:00Anon - as I understand it, there are subfunds with...Anon - as I understand it, there are subfunds within these larger funds. I do know, however, that transfers have been occurring on some regular basis. I am ignorant of the specific laws regulating such transfers.Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-75701826682948337732012-08-22T08:12:19.813-04:002012-08-22T08:12:19.813-04:00I believe it is illegal to comingle TIF revenue.I believe it is illegal to comingle TIF revenue.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-51335840583418127902012-08-21T23:32:28.482-04:002012-08-21T23:32:28.482-04:00Jon, you have summarized it all quite perfectly !Jon, you have summarized it all quite perfectly !Had Enough Indy?https://www.blogger.com/profile/09673791504434523246noreply@blogger.comtag:blogger.com,1999:blog-1826828000189814347.post-18021134270457043792012-08-21T19:03:13.437-04:002012-08-21T19:03:13.437-04:00So over the last four budgets TIFS were 30+ millio...So over the last four budgets TIFS were 30+ million short in revenue and the administration 1)siphoned monies from LOIT, garage receipts, other TIFs and property taxes. So TIFs don't always increase in value, they do lose money, they do take dollars from other funds and other TIFs and from local taxes! Funny I never heard any negatives about TIFs from our current adminstration. But we also didn't hear from our administration that these TIFs had a serious shortfall the last four years. <br /><br />And somehow we need 5-6 more of these TIFs to 'better' our communties.Jonhttps://www.blogger.com/profile/09490253182039581408noreply@blogger.com